Holding the coveted title of No. 1 has been a long-standing achievement for the Los Angeles and Long Beach ports, a dynamic duo that has reigned supreme in international trade for over two decades. These interconnected trade powerhouses are responsible for facilitating the movement of nearly 40% of Asia’s imported goods into U.S. markets and […]
With the count of waiting vessels having surged to 154, the Panama Canal grapples with a mounting pileup, compelled to reduce passage bookings for carriers in response to ongoing drought conditions. These arid circumstances have stirred turmoil in the key maritime passageway since spring. Currently, the expected waiting period to traverse the canal spans about […]
Anticipated findings project that the worldwide logistics sector will achieve a remarkable valuation of over $16.79 trillion by the year 2032. A recent study conducted by Allied Market Research reveals that the global logistics landscape achieved an impressive revenue of over $9.83 trillion in 2022, which sets the stage for a compounded annual growth rate […]
Several shipping stocks have outperformed the market this year, with Dorian LPG (NYSE: LPG) leading the pack. Its adjusted closing price, factoring in dividends, has surged by 63% year-to-date. On Monday, its share price attained a historic peak since its initial public offering in 2014. Dorian manages a fleet of very large gas carriers (VLGCs) […]
In July, the Logistics Managers’ Index (LMI) unveiled a notable yet moderated decrease in transportation prices, contrasting with the sharp declines of the previous months. During the month, the recorded price reading stood at 35.6 on the index, well below the neutral level of 50. While the descent wasn’t as steep as the record-breaking drop […]
The U.S. Government, through the Department of Justice, Department of Commerce’s Bureau of Industry and Security (BIS), and the Department of the Treasury’s Office of Foreign Assets Control (OFAC), has issued a joint compliance note emphasizing the significance of voluntary self-disclosures regarding potential violations of U.S. sanctions, export controls, and other national security laws. The […]
On July 20, the Government Accountability Office (GAO) released a comprehensive report titled “Steel and Aluminum Tariffs: Agencies Should Ensure Exclusion Requests Are Needed and Duties Are Paid.” The report sheds light on the administration of Section 232 exclusions, which were imposed in March 2018 by the President due to national security concerns. These exclusions […]
In a joint effort to address the ongoing challenges of unreliable rail service and high shipping costs faced by American businesses, U.S. Senators Tammy Baldwin (D-Wis.) and Roger Marshall (R-Kan.) have reintroduced the Reliable Rail Service Act. Supported by various industry stakeholders, including agriculture, labor, energy, and manufacturing organizations, the legislation aims to bring about […]
In recent days, FreightWaves’ reporter Noi Mahoney covered the ongoing Canadian port strike. The articles titled “Dockworkers at Canada’s West Coast ports launch strike” and “Dockworkers strike continues at Canada’s West Coast ports” shed light on the situation. (Link to articles and Thursday’s FreightWaves Now appearance can be found in the original report.) Here’s a […]
The Centers for Disease Control (CDC) has made an important announcement regarding the extension of current restrictions on imported dogs from countries identified as having a high risk of enzootic rabies. The extension is set to last for an additional year, until July 31, 2024. This measure applies to all dogs that have been present […]
